Real estate agent myths: busted!

On 07 April 2015 in Adam Hayes, Jody Hayes, Peter Kafkas, Property Investor

We’re on a mission to change Darwin’s opinion of real estate agents, because c’mon let’s face it, sometimes we get a bad rap for no good reason.

In fact, real estate agents came in at number 45 in last year’s Reader’s Digest ‘most trusted professions’ – two above sex workers at number 47 with the professions totalling 50.

Like any industry, there are people who give it a good name, and people who give it a bad name and in this day and age, it seems to be the minority ruining it for the majority.

In a bid to show you our true colours, we uncover the truth about some of the biggest myths we know, hear and believe about real estate agents.

Myth #1: Real estate agents are only in it for the money

If we strip real estate back to what it actually is, we see that it is in fact about sales which involves the transaction of money; but that’s not to say that’s the main or only motivation for an agent to sell your property.

We like to think of ourselves as the good guys in real estate, in that we value getting to know our vendors and treat them as a person, not a number.

Maybe it’s because we’re based in the Northern Territory, or maybe it’s because we know people would rather an overall experience than just ‘the sale of their house’.

Okay, you want the honest truth? We sell property – because that’s what we love to do!

Verdict: BUSTED!
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Myth #2: Real estate agents are commission-hungry


There may be agents out there who are ‘commission-hungry’ and only accept sales on big price tag properties, but those agents are soon washed up with the tide.

It must be said that the commission really does depend on the area, price of the property and what type of property it is.

Good agents will accept to sell everyday, run-of-the-mill properties and find satisfaction in the fact they’re achieving a great result for their client, not the commission.

Verdict: BUSTED!
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Myth #3: Real estate agents are untrustworthy

We’re not sure where this reputation originated from – perhaps it’s an old-school view conceived before laws came into play to protect buyers and sellers from getting duped by shady agents.

A lot has changed, but unfortunately this common perception of agents has stuck around.

An agent’s confidence, charm and ability to talk the talk can sometimes be mistaken as crafty but these skills are needed in order to get the best possible result for their vendors.

After all, where would an agent be without killer negotiation skills?

Verdict: BUSTED!
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Myth #4: Real estate agents will say or do anything to make a sale

Fortunately, this myth has no legs to stand on.

Good agents who enjoy a solid reputation in the community and practice real estate honestly are very careful to uphold their clients’ trust.

If an agent is made aware of a material fact relating to the property that could influence whether a buyer proceeds with a sale or what they would pay, then it must be disclosed by the agent.

Yes, some bad apples in the industry can lie to you. But those who fail to disclose material facts are subject to prosecution and a loss of their licence to sell real estate.

Verdict: BUSTED!
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Are you guilty of believing any of the myths above? We’d love to know of any others you’ve heard over the years. 

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